CipherCloud, a US-based cloud information protection company backed by Germany-based telecoms company Deutsche Telekom’s corporate venturing unit, has raised $30m from venture firm Andreessen Horowitz.
CipherCloud had previously been backed by Deutsche Telekom’s T-Venture as well as venture firm Index. The two investors and Andreessen Horowitz backed CipherCloud with an undisclosed sum, according to news provider FinSMEs last year.
The company said it planned to use the funding to globalise with expanded sales and marketing and develop its cloud information protection.
John Jack, board partner at Andreessen Horowitz and former chief executive of Fortify Software, has joined CipherCloud’s board.
CipherCloud was founded in 2010 and now protects 1.2 million cloud application users and 100 million customer records for more than 40 enterprise clients across eight countries.
John Jack said: “Security is the number one inhibitor preventing organizations from adopting cloud applications, and CipherCloud has solved this huge problem in a very elegant way. CipherCloud is moving up one of the fastest enterprise adoption curves I have ever seen. The combination of technology, team and market opportunity makes this a compelling investment.”
CipherCloud chief executive Pravin Kothari was previously co-founder and vice president of engineering at ArcSight, which was bought by HP for more than $1.5bn.